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Level 1

Our organization makes about 50 grants a year. Each grant can have multiple payees. Can Quickbooks track the amount allocated to each grant as an outstanding balance?

Each grant may have multiple vendors.

Example: Grant A is approved for $1,000 on 11/1/18. Recipient A submits invoice for reimbursement of $200 on 11/15/2018. Recipient B submits invoice for reimbursement of $300 on 11/30/18 and so on.  Payments are applied at time of reimbursement (checks written).
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Level 15

Our organization makes about 50 grants a year. Each grant can have multiple payees. Can Quickbooks track the amount allocated to each grant as an outstanding balance?

Put the Grant Name as Customer.

 

When you enter the Payment details, you Job Track it = that Grant is the additional cross-reference, as Not Billable, of course. You might also be using Class Tracking for Programs and Purposes.

 

Like this:

Payee A, $500, Grant = County; Class = Food Bank Operations

Payee B, $1,000, Grant = County; Class = Childcare Food Program

Payee C, $500, Grant = USDA; Class = Childcare Food Program

 

You would have processed the Income like that, too, if you get Grants:

Sales Receipt for "customer name" = County, Class = Childcare Food Program on one line and Class = Food Bank Operations on the other line, if the funds arrived in one payment, but are Split.

 

And when you submit for a grant, you would use Estimate, to document your submission.

 

If this is a reimbursable grant, your payment details would be tracked as Billable, so that you can Charge it to the County or State to be reimbursed. That means Invoice for the billable costs.

 

And with these tools, the P&L by Class shows the two Classes as Columns; P&L by Customer:job (grant) gives a slightly different perspective. The P&L shows Income over Expense. You might have multiple grants per class, or multiple classes entries for any one grant.

 

I hope that helps describe the processes that are used.

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